Any insight on options for the tenant to pay down the principle or work towards their down payment?

It is a bit short sighted on the associations’s part, it definitely has an affect on property values when you eliminate traditional financing.

So does principle reduction and capital expenditure as well as vacancy and routine maintenance.  

What are sight lines, what are access, what are daily traffic numbers, any bank anchors for cross traffic, etc.

For instance, in this case, here are the key points:1 - Profit in rental REI is measured mostly in cash flow...POSITIVE CF.2 - PCF is the result of the spread between the income (rent) and outgo (expenses)...per month/year.3 - Profit is a measure of the difference between the positive cash flow, and the amount of cash you put into a deal from out of YOUR pocket.4 - Since the mortgage (interest and principle) is paid out of the rent, which is paid to you by the tenant, the mortgage is NOT a cost to you...but a cost to the tenant (indirectly). 

Then I do a sight-unseen comp for it.I look at the map. 

Depreciation matches revenue with expense, it’s called matching principle in accounting.

Can't wait to hear out this turns out, sounds like the end is in sight! 

Even though, I know the world always live on those principles.

Our budget factors in a new fence to keep some of it out of sight, but it will still be apparent when driving up to the property.